Telecoms move up as FTSE continues comeback

LONDON'S heavyweight stocks continued their resurgence yesterday as the FTSE 100 Index soared to within reach of the 4300 barrier.

Telecoms, banking, oil and pharmaceutical stocks all moved ahead as investors sought bargains after the recent bloodbath in the square mile.

Further gains on the Dow Jones on Wall Street after its first positive close for seven successive sessions on Wednesday night also boosted hopes.